Bitcoin biting the dust?

[Wiploc]

Bitcoin hit a new high of $98k. November last year it was around $35k. Nice little earner.

Inflation is Bitcoins Spinach. Everyone herp derps over to crypto when they're seeking to hedge against inflation and other market woes. Whether it works or not is a different argument I'm not making.

Edit and by everyone I mean the people who invest in Crypto.

I don't think that is a good strategy. One could suffer very significant losses in a matter of days. I wouldn't consider buying Bitcoin at the current price.

Warren Buffet says not to buy things we don't understand. Almost nobody understands Bitcoin.

 

[TSwizzle]

Warren Buffet says not to buy things we don't understand. Almost nobody understands Bitcoin.

I think when it comes to investing Buffet is probably right. I don't understand Bitcoin but I still bought a little bit and made a little bit of money, about a $4k profit but there is no way I would invest a large amount of money in Bitcoin. I just like to dabble with money I can afford to lose. I have tried to understand what Bitcoin is all about and read a number of articles by "experts" but I am not convinced they understand it either.

 

[Wiploc]

Warren Buffet says not to buy things we don't understand. Almost nobody understands Bitcoin.

I think when it comes to investing Buffet is probably right. I don't understand Bitcoin but I still bought a little bit and made a little bit of money, about a $4k profit but there is no way I would invest a large amount of money in Bitcoin. I just like to dabble with money I can afford to lose. I have tried to understand what Bitcoin is all about and read a number of articles by "experts" but I am not convinced they understand it either.

I strongly recommend Going Infinite by Michael Lewis. It's fascinating. And it makes the point that most people in digital currency don't know any more about it than you and I do.